Mortgage Rates Notch Down For Third Consecutive Week

Associate Editor

Dec 12, 2024

Freddie Mac analysis finds 30-year fixed rate mortgage dips to 6.60%.

The national average 30-year-fixed mortgage rate dropped for the third consecutive week, according to Freddie Mac’s latest Primary Mortgage Market Survey (PMMS). The 30-year fixed-rate mortgage averaged 6.60% as of Dec. 12, down from 6.69% the week prior.

Meanwhile, the 15-year-fixed mortgage rate averaged 5.84%, down from 5.96% a week ago.

Homebuyer demand has increased due to a positive combination of continued mortgage rate declines, consumer income growth, and a bullish stock market, noted Sam Khater, Freddie Mac’s chief economist. But he added that challenges persist.

“While the outlook for the housing market is improving, the improvement is limited given that homebuyers continue to face stiff affordability headwinds,” Khater stated in a release.

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Aaron Marsh

Associate Editor

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Published

Dec 12, 2024

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